Federal banking regulators and payday lenders have reached a tentative settlement in a long-running lawsuit over an Obama-era program that saw payday lenders, gun store owners and other businesses cut off from banking services.
The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency and the several payday lenders said that they expect to file a stipulated dismissal of the five-year old litigation over Operation Choke Point in a joint status report filed May 21 in the U.S. District Court for the District of Columbia.
Operation Choke Point, a Justice Department program during the Obama administration, ...
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